DBA Group SpA (DBA) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of DBA Group SpA stock €9.39, price €4.22, upside +122.5%, quality 70 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.
How to read this chart
60‑month range €1.18 – €4.79 · fair‑value band €7.04 – €11.74 · the €4.22 price screens below the €9.39 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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DBA Group S.p.A. provides consultancy, architecture, engineering, and project management services.
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It offers technical and technological services; consulting services; engineering services; architecture and project management office services, as well as develops project, asset and lifecycle; and software platforms.
The company also provides professional, technical and management services; and information security, management and cyber security services. It serves real estate, telecommunications and media, transport and logistics, and other markets.
The company was founded in 1991 and is based in Villorba, Italy.
Stock analysis
DBA Group SpA (DBA) currently trades at €4.22, while our model-based Fair Value estimate is €9.39, implying the stock looks roughly 55% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of €14.78 per share, and 21 of the 26 models we run sit above the €4.22 price.
Bear case: the Dividend Discount group reads lowest at €1.51, and 5 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: €7.04 (bear) to €11.74 (bull), the price of €4.22 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 70/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
DBA Group SpA reported revenue of €128M in FY2025 versus €78.3M in FY2021, a compound +13.1%/yr. Reported net income was €4.9M in FY2025.
Key figures
Market cap €46.1M Micro · P/E ratio 9.6 · P/S ratio 0.33 · EPS (TTM) €0.4400 · Dividend yield 3.3% · Net margin 3.4% · Return on equity 19.6% · Return on assets (EBIT) 7.1% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).
What moves the price
The share trades about 12% below its 52-week high and 36% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −42% fair-value upside, at 123%, DBA screens cheaper than that median.
Fair Value models
Bear€7.04Fair Value €9.39Bull€11.74
Price €4.22 · Upside +122.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (€0.2573 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.93/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+10.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.1%
Start year 2020 (pandemic). Over 10 years: +12.3% a year
Revenue growth 10 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.3%
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What shareholders gained per year (last 3 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+84.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+81.5%
Dividend (yield on the price)3.3%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.0% → 9%
2025 sits 62% above its own trend. The rate follows the median trend of the last 3 years, not that single year.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−9.7%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −11.6% a year for the price.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Engineering & Construction · 791 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score70 · Top 25%
Fair Value upside+122.5% · Top 25%
Profitability
Return on equity (12 months)19.6% · Top 25%
Return on assets5.7% · Top 25%
Net margin (12 months)3.4% · Below median
Operating margin (12 months)5.8% · Above median
Growth and dividend
Revenue growth (quarter YoY)24.6% · Top 25%
Dividend yield (12 months)3.3% · Above median
Balance sheet
Debt / equity0.17× · Above median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
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Cite: Fair Value Calculator (2026). "DBA Group SpA Fair Value". https://www.fairvalue-calculator.com/stock/DBA
Frequently asked questions
Is DBA Group SpA (DBA) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of €9.39 versus a price of €4.22, about +123% upside (undervalued).
What is the fair value of DBA?
Our model-based fair value for DBA Group SpA is €9.39 (as of Nov 9, 2026), built from audited fundamentals. The current price: €4.22.
What is the quality score of DBA?
DBA Group SpA has a Quality Score of 70/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for DBA Group SpA (DBA)?
Our model-based price target is the fair value of €9.39 (as of Nov 9, 2026) from 26 valuation models. Cautious scenario €7.04, optimistic scenario €11.74. It is a calculation from audited fundamentals, not an analyst target.
What is the DBA Group SpA stock forecast for 2026?
Our models put fair value at €9.39, about +123% upside versus a price of €4.22 (undervalued). Cautious scenario €7.04, optimistic scenario €11.74. The calculation is refreshed regularly with new filings.
What is the revenue of DBA Group SpA (DBA)?
DBA Group SpA reported trailing-twelve-month revenue of about €142M (latest available figure, as of Nov 9, 2026).
Does DBA Group SpA pay a dividend?
DBA Group SpA currently shows a dividend yield of 3.32% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of DBA Group SpA (DBA) and when is the ex-dividend date?
DBA Group SpA pays a dividend of €0.14 per share a year, a dividend yield of 3.3%. The last ex-dividend date was Jul 20, 2026. The payout ratio is 31.8% of earnings. Free cash flow covers the dividend 6.73 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into DBA Group SpA (DBA)?
For today's price to be fair in a discounted-cash-flow model, DBA Group SpA would have to grow free cash flow by -9.7 % per year for five years (discount rate 13.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.1 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of DBA use?
Our models discount DBA Group SpA at 13.5 %: a base by market capitalisation (micro), damped by beta 0.48, country premium for Italy. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For DBA Group SpA that is -9.7 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (13.5 %) and the same formula as our fair value.
How much growth has DBA Group SpA (DBA) delivered so far?
Over the past 5 years revenue at DBA Group SpA grew +13.1 % a year. The price currently implies free-cash-flow growth of -9.7 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of DBA Group SpA (DBA) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into DBA Group SpA (-9.7 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of DBA Group SpA (DBA)?
The free-cash-flow yield on the price is 22.33 %: that much free cash flow DBA Group SpA produces per unit of market value. When it exceeds the discount rate of our models (13.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of DBA Group SpA (DBA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For DBA Group SpA it is €9.39 per share (as of Nov 9, 2026), against a price of €4.22. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is DBA Group SpA stock overvalued or undervalued in 2026?
As of Nov 9, 2026, DBA trades below its calculated fair value: price €4.22, fair value €9.39, a gap of about +123% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of DBA?
No. The price is what the market pays today (€4.22); the fair value is what the company's own numbers justify (€9.39). For DBA Group SpA the two are €5.17 per share apart. That gap is exactly why we show both numbers side by side.
How much is DBA Group SpA worth?
The market values DBA Group SpA at about €46.1M (market capitalisation, as of Nov 9, 2026). Per share that is €4.22; our models calculate a fair value of €9.39 per share.
What do the bullish and bearish scenarios say about DBA?
Our models span a range for DBA Group SpA: cautious scenario €7.04, base €9.39, optimistic €11.74 per share (as of Nov 9, 2026, price €4.22). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of DBA?
DBA Group SpA trades at a price-to-earnings ratio of 9.6 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €9.39 is built from several models across several years. Median P/E at fiscal year-end, 6 fiscal years (2017 to 2025), reported earnings: 19.9. Other multiples: P/B 1.7, P/S 0.3, EV/EBITDA 3.0.
How solid is the balance sheet of DBA Group SpA (DBA)?
Balance-sheet figures for DBA Group SpA (as of Nov 9, 2026): return on equity 19.6%, debt of 0.17 per unit of equity. They feed the Quality Score of 70/100, which measures business quality independently of the share price.
How far is DBA from its 52-week high?
DBA Group SpA trades at €4.22, about 12% below its 52-week high of €4.79 and 36% above the low of €3.11 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €9.39 is for.
Which stocks are comparable to DBA Group SpA?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is DBA Group SpA stock attractive at the current price?
The data as of Nov 9, 2026: price €4.22, calculated fair value €9.39 (+123%), Quality Score 70/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of DBA calculated?
We run DBA Group SpA through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of €9.39 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. DBA Group SpA currently trades 55% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of DBA Group SpA (DBA)?
The closing price on Nov 6, 2026 was €4.22. Our model-based fair value is €9.39, about +123% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with DBA Group SpA right now?
The price is below even our cautious bear case (€7.04). The market is more pessimistic than our downside scenario. Solid quality (70/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of DBA Group SpA
How large is the market capitalisation of DBA Group SpA (DBA)?
The market capitalisation of DBA Group SpA is €46.1M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of DBA Group SpA (DBA)?
The price-to-sales ratio of DBA Group SpA is 0.33 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of DBA Group SpA (DBA)?
Earnings per share at DBA Group SpA are €0.4400 (price ÷ EPS = P/E 9.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of DBA Group SpA (DBA)?
The dividend yield of DBA Group SpA is 3.3% (payout 31.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of DBA Group SpA (DBA)?
The net margin of DBA Group SpA is 3.4% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of DBA Group SpA (DBA)?
The return on equity (ROE) of DBA Group SpA is 19.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of DBA Group SpA (DBA)?
On an EBIT basis the return on assets of DBA Group SpA is 7.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of DBA Group SpA (DBA)?
The operating margin of DBA Group SpA is 5.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at DBA Group SpA (DBA)?
Revenue at DBA Group SpA is growing +24.6% versus a year earlier (3y avg +15.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at DBA Group SpA (DBA)?
Earnings per share at DBA Group SpA are growing −2.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does DBA Group SpA (DBA) carry?
The net debt of DBA Group SpA is €3.8M (fiscal year 2025, ≈ 0.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 9, 2026